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Full-Text Articles in Economics
Government Ideology, Democracy And The Sacrifice Ratio: Evidence From Latin American And Caribbean Disinflations, Tony Caporale
Government Ideology, Democracy And The Sacrifice Ratio: Evidence From Latin American And Caribbean Disinflations, Tony Caporale
Economics and Finance Faculty Publications
This study uses a sample of 34 disinflations undertaken by thirteen Latin American and Caribbean (LAC) nations to test if political institutions impact the cost of policy induced disinflations. We find, after controlling for several of the most important covariates in the literature, that disinflations are less costly for right vs. left governments and that sacrifice ratios are lower for more democratic vs. authoritarian governmental regimes. This is robust to different measures of government ideology as well as to alternative ways of computing the sacrifice ratio and lends support for political economy literature which argues that political institutions have significant …
A Positive Political Model Of Supreme Court Economic Decisions, Tony Caporale, Harold Winter
A Positive Political Model Of Supreme Court Economic Decisions, Tony Caporale, Harold Winter
Economics and Finance Faculty Publications
We develop a positive political model of the U.S. Supreme Court. Looking at the Court's economic cases for the period 1953-1993, we find a significant larger fraction of conservative decisions under Republican presidents and more conservative leadership of the House and Senate Judiciary Committees. Conservative decisions are also found to be positively correlated with the fraction of the Court appointed by Republican presidents and the rate of price inflation. We argue that our findings cast serious doubt on the common view of the Supreme Court as a completely independent, apolitical institution.